The ultra-low tax system in the Turks and Caicos Islands makes it the best location for international businesses such as forex, casinos, and gambling. There are no direct taxes in the Turks and Caicos, which means no income, corporation, capital gains, or inheritance tax. This British Overseas Territory proved to be a haven for forex traders. It offers a forex license under the Turks and Caicos Islands Financial Service Commission, which is recognized worldwide.
This third-largest populated British overseas territory established itself as an “all-in-one shop” for forex brokers for numerous reasons, including easy licenses, ultra-low taxes, and the availability of reliable payment services. In TCI, PayCly is the most reliable forex payment processing company that offers forex merchant accounts, a forex payment gateway, and offshore merchant accounts to forex brokers. FYI, banks and financial institutions (FIs) consider the forex business high-risk; consequently, they do not offer payment services to forex brokers.
Advantages of starting a Forex Brokerfirm in The Turks and Caicos Islands:
Let’s have a glimpse at the key advantages of starting a forex broker firm in the Turks and Caicos Islands:
What is a Forex Merchant Account, and why is it considered High-Risk?
A forex merchant account functions similarly to a business bank account by allowing forex brokers to accept, hold, and withdraw money from their traders. On the other hand, a forex payment gateway is a technology that links the issuer, acquirer, and forex broker and enables online payment transactions by transmitting payment information. There are a number of reasons why the forex industry is seen as high-risk; some of them are as follows:
Why should you choose PayCly?
PayCly is one of the best forex payment processing firms in the Turks and Caicos Islands (TCI) that provides each and every forex payment solution, such as offshore merchant accounts, forex merchant accounts, and payment gateway forex. We consistently outperform our competitors thanks to our customer-centric strategy. We provide specialised payment services based on the requirements of currency merchants. In TCI, we offer the lowest MDR rates. Your payment is protected from fraud and erroneous chargebacks by our cutting-edge technologies, which include AI, ML, encryption, tokenization, SSL, SET, AVS & CVV checks, and 3D secure authentication. Additionally, we adhere to the strictest PCI-DSS level-1 compliance standards.
Additionally, we enable your traders to fund their trading accounts using 150 foreign currencies and over 100 alternative payment methods. We offer speedy payout and are available to you around the clock. Plus, we provide forex merchant accounts to both registered and unregistered forex brokers. We also designate a dedicated support manager for you. You can unlock a number of advantages by selecting us as your currency payment provider, some of which are listed below: